What keeps you up at night? Thoughts about the day ahead? Thinking about the show or movie you watched right before bed?
A third of Americans get less than the recommended seven hours of sleep per night, according to the Centers for Disease Control. Lack of sleep can lead to numerous health issues, including chronic disease and depression.1
Among those not getting enough sleep, a 2022 Northwestern Mutual study found that 54% of U.S. adults are “somewhat/very anxious” about their finances.2
The study also found that 76% of those who self identify as disciplined planners reported being happier and sleeping better.
Interestingly, it found that 81% of those who work with a financial advisor reported better sleep, while 35% of those who do not work with an advisor revealed they were sleeping poorly.
Could working with a financial advisor be the key to better sleep?
The First Step to Reducing Financial Stress
We may not know if financial advisors are the actual reason people who use one sleep better, but having a solid financial plan can help reduce financial stress.
The first step to solidifying a financial plan is getting the right kind of help, which a fiduciary financial advisor could provide. Fiduciary advisors are obligated to work in your best interest.
The same Northwestern Mutual study found that 62% of U.S. adults admit their financial planning needs improvement. However, only 35% of Americans work with a financial advisor.
The study also found that more Americans are turning to financial advisors. Nearly one in five (18%) U.S. adults say they didn't have an advisor before the COVID-19 pandemic, but now they have either started working with one or plan to move forward.
A Simple Way to Find a Financial Advisor
The value of working with a financial advisor varies by person and advisors are legally prohibited from promising returns, but research suggests people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.3
SmartAsset’s no-cost tool simplifies the time-consuming process of finding a financial advisor. A short quiz helps match you with up to three fiduciary financial advisors that serve your area, legally bound to work in your best interest. The whole process takes just a few minutes, and in many cases you can be connected instantly with an advisor for a free financial consultation.
SmartAsset Awards & Accolades
Technology Company - NY
FINTECH AWARDS - 2021
for Personal Finance